35854 replies to this topic

[Beorn]

I look forward to the bulls that buy in now squirming when they get crushed.

But, I'm not going short yet.

[OceanWalz]

short 41560 T40 not Future - might be a bit premature? should have waited for reversal sign - might just close if she turns up again

[fabes]

Well played Chubby. See you got you groove back!

 

Wonder what happened to everyone. I wasn't trading last week. Bought the opening dip yesterday and closed @41250/70. Bought this morning again at 41340 and looking to close at 41540.

 

I think we might test 416/417 today, but drop again. Either US will dip at open or rally hard till Yellen testify.

Greed is getting the better of me. I'm holding on to longs for now. Wanna see what Alsi does. SL moved to 41500.

[Beorn]

Here we go again,

This is nuts.

[OceanWalz]

closed T40 F long now 41464

 

possibly short closer to 41600 if volumes on main counters low and sign of confirmed 1hr reversal downwards

the bulls are showing they are not dead and might still make a fight for 1830 even after a dip down - oh well will short then again. 

[fabes]

Im all out @ 41420..Rally might be running out of steam for now

 

Well played Chubby. See you got you groove back!

 

Wow,
Not a lot going on on the forum.

Anyone see us shooting out the lights today again?

Not a lot has changed fundamentally for this rally to occur, so I think it bargain hunters. It got me off guard. But I think the high is in.

Depending on what Yellen has to say tonight though.

Wonder what happened to everyone. I wasn't trading last week. Bought the opening dip yesterday and closed @41250/70. Bought this morning again at 41340 and looking to close at 41540.

 

I think we might test 416/417 today, but drop again. Either US will dip at open or rally hard till Yellen testify.

[Beorn]

Wow,
Not a lot going on on the forum.

Anyone see us shooting out the lights today again?

Not a lot has changed fundamentally for this rally to occur, so I think it bargain hunters. It got me off guard. But I think the high is in.

Depending on what Yellen has to say tonight though.

[ben-cube]

DJ positive where the bears @

[Argento]

Hi David,

 

Wave B legs up normally retrace 50% of Wave A legs down..if we map this to our market the 50% retracement were at 41174 futures (cleared it today), you do get that she retraces 61% fib but I usually cut shorts if she goes past the 50% mark!

 

We can't ignore the reversal candles on the T40+SPX weeklies and it looks like the US might be building an inverted H&S that should be bullish for all the markets and new highs..if they form the right shoulder this week!

 

Are we entering into the last euphoria buying phase before this bull tops out?Will need to see how it develops...weekly MACD still bearish and there is an important cycle low later in Feb so we might be at an inflection point...!T40 could be aiming for that 41745 before turning down again....but for now trend is up until she signals otherwise!

 

A

There is a good change she is going for the top line of this new bull channel..look where she bounced!!?

 

We know markets tumble only about 2 months before a QE program ends...so could very well be only in Aug/Sept..will need to follow the signals but for now up and away!

 

A

 

[Argento]

Maybe others can take something out of this answer.

Argento, you are the E wave man so generally how far is the B leg up in comparison to leg A down? Half, Fib 61% or 2/3? Im asking because 42k seems quit bit of a retraction.

Thanks

Hi David,

 

Wave B legs up normally retrace 50% of Wave A legs down..if we map this to our market the 50% retracement were at 41174 futures (cleared it today), you do get that she retraces 61% fib but I usually cut shorts if she goes past the 50% mark!

 

We can't ignore the reversal candles on the T40+SPX weeklies and it looks like the US might be building an inverted H&S that should be bullish for all the markets and new highs..if they form the right shoulder this week!

 

Are we entering into the last euphoria buying phase before this bull tops out?Will need to see how it develops...weekly MACD still bearish and there is an important cycle low later in Feb so we might be at an inflection point...!T40 could be aiming for that 41745 before turning down again....but for now trend is up until she signals otherwise!

 

A

[Redeemer]

yes Chubby. Certainly not today. But I don't see a huge sell off though...maybe just some profit taking (500 pips or so), then up we go again.

 

Yep..But not today..We should see some sort of sell off..41000 a bit opti but US Futures are looking like some proft taking on the cards

[Redeemer]

That upward channel is in play. I see 42500-43000 before the bears come back.

This bull got lots of life in it.

 

TAking some off the table...lets see if she will touch 41000 again

[Lekkerry]

ugh, SOSO. "How can we be this high, now".

 

But here we are and 42k seems more probable than 39k (here and now). My overriding sentiment is short, but this ain't no "short" market momentum.

[OceanWalz]

heard a oft quoted wisdom again "the Profits will always take care of themselves if you take care of the Risk -- if the risk is not right you have to get out."

[Ninja]

For me it's not where we'll open on Monday morning, but where we'll close the week on Friday!!!

[davidp13]

everyone, including me, seems to have targets to 40800/900 on T40F's - also coincide w S&P target of 18013/22 ish
--but normally feb should be last new high before market plays Lemming - so what is view on past 40900 and rather 42000ish.??
how much higher than 40900 must it go before give up those new shorts from 40900 ( many think tMr Market may well try this)-- well it is something to ponder. any comments?

Hi O,
 
Just my 2c but I think the TOP40 has seen its high for the year, if you look at the weekly MACD the major correction for 2014 has kicked off, but as we know mr market does not fall in a straight line!
 
But...if you look at history our markets have the tendancy to top or bottom before the US, they had a high momentum top and bullphases do not end like that, so very possible the US is going for a new high in March/April, where as we will only see the 42000 level again...then the mini bearmarket will resume!
 
More short term I am ready with my shorts as this wave B leg up is almost at its target (Monday?) before the red hanger sale starts again and mark the low of this phase by next week...!
 
A

Maybe others can take something out of this answer.

Argento, you are the E wave man so generally how far is the B leg up in comparison to leg A down? Half, Fib 61% or 2/3? Im asking because 42k seems quit bit of a retraction.

Thanks

[chnkaw001]

1000+ points in 2 days with no great market news, all thanks to US markets pointless assuming market research gotta focus on the technicals

Wouldnt be surprised on a pump and dump coming up. ALSI and SP 500 seem to form a head and shoulder and right shoulder around 42000 and 1810. With the sentiment drive I would say a very short term long, but I think it wouldn't be long due a bigger correction.

[ben-cube]

1000+ points in 2 days with no great market news, all thanks to US markets pointless assuming market research gotta focus on the technicals

[bear catcher]

Chubby itching for a short?

[bear catcher]

41050